Country on track to hit 2020 target, says Mustapa

KUALA LUMPUR: Malaysia is on track to achieve the 3.7 per cent annual labour productivity growth target valued at RM92,300 per worker by 2020.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the country achieved labour productivity growth of 3.6 per cent in 2016, reaching 87.8 per cent of the 2020 target, or productivity value of RM81,039.

“With the nine Productivity Nexus initiatives led by industries and supported by government and academia (in place), we believe the country’s productivity will be further improved.

“This year, the Nexus has planned over 42 projects, among them documentation of best practices, industry profiling and development of online productivity tool kits,” he said after officiating at the Showcase on Innovation for Productivity (SHIP) 2018, here, yesterday.

The Productivity Nexus is a centre of excellence and a catalyst for the implementation of productivity initiatives.

Industries are encouraged to participate in programmes offered by the Nexus to boost worker efficiency.

SHIP 2018 showcases best practices from four strategic innovation partnership platforms, namely the Higher Education Ministry’s Public-Private Research Network, SIRIM-Fraunhofer Partnership, AIM-Steinbeis Foundation Malaysia and SME Corp Bhd–PlaTCOM Ventures Sdn Bhd.

During the 2015-2017 period, SHIP spent about RM200 million and it benefited 1,600 small and medium enterprises.

SHIP is an initiative under the purview of the National Oversight Productivity Council, which is part of the governance structure of the National Productivity Council.